FTSE 100 Rises 0.15% as Revised UK Q2 GDP Growth Beats Estimates

U.K. stocks closed higher Wednesday after revised data showed the economy grew more than initially estimated, though caution over rising oil prices capped gains. The FTSE 100 was up 15.99 points, or 0.15%, at 10,652.70 around half an hour past noon, having earlier reached 10,727.68. The Office for National Statistics revised second-quarter GDP growth up to 0.5% from 0.4%, following a 0.6% first-quarter increase. Services expanded 0.6% and construction 0.8%, while production shrank 0.1%. Real household consumption rose 0.3% and government spending fell 0.5%. The current account deficit narrowed by GBP 1.2 billion to GBP 19.9 billion, or 2.5% of GDP. SSE rose over 3%, with National Grid, Antofagasta, Severn Trent and United Utilities up 2.4%-3%. The Sage Group fell 2.3%, while BP, Shell and Ithaca shed 0.8%-1.2% as oil prices rebounded on Middle East supply concerns.